PowerShares Insured National Municipal Bond Portfolio (the Fund) is based on the Merrill Lynch Insured National Long-Term Core Municipal Securities Index (the Index). The Index is designed to track the performance of United States dollar-denominated, investment-grade, insured, tax-exempt debt publicly issued by the United States municipalities in the United States domestic market. The Index is adjusted monthly and its constituents are capitalization-weighted based on their current amount outstanding. The Fund’s investment advisor is Invesco PowerShares Capital Management LLC.